LOOKING INTO OUR CRYSTAL BALL…

9 April 2020

I’m sure many
of us had similarly mixed feelings on hearing today’s announcement that we must
continue to stay at home unless essential for at least another week – and only
the most optimistic amongst us would have thought that the lockdown might end
in a week.

On the one
hand, we all want to do our bit to help the country and our communities get
through this, the opportunity to spend this extended period of time at home
with our families is an unexpected privilege and our gardens have never looked
as well-tended!

On the other
hand, life feels very much ‘on hold’ for those of us more used to taking
responsibility for our actions (rather than being responsible through
inaction!) and of course one cannot help but worry about
life-after-lockdown.

We have spent
the last three weeks mainly talking to people involved in our pipeline of
sales; sellers who have accepted an offer, buyers who have found their dream
home and fellow professional agents, lawyers and surveyors involved in the
transactions, all hoping to progress the sales as far as possible under the
current restrictions.

Generally, the
sentiment has been positive although, understandably, concerns have centred on
how the economy and the property market in particular might be affected.

Gazing into the
Bedfords’ crystal ball, and reflecting on past recessions, we predict a ‘flight
to quality’ whereby the market favours and supports best-in-class houses in
prime locations. There may be a down-turn in the mass market and
secondary locations, but best-in-class should significantly out-perform the
rest of the market.

We have
specialised in the sale of these best-in-class properties for decades; it is
our core market and one for which we have an instinctive feel, allowing us to
provide our clients with savvy advice based upon years of experience.

Despite the
uncertainty as to when the market might be permitted to resume, we have a
number of clients already planning for life-after-lockdown. If you want
to discuss the sale or acquisition of a property and similarly prepare for
life-after-lockdown, please get in touch and we would be delighted to assist.